Do you average up/down or put the whole thing on at once ? Does it depend on going long or shorting ? Does your entry depend on the market or specific trade setup ? Does it just depend ?...or not even matter ?? Are you a reactive trader or are you a proactive trader...or maybe a little of both.
All you who answer: Are you consistently profitable? (if you don't mind sharing that information) I would think the most profitable traders scale in/out and are more proactive than reactive. I personally average up/down in approximately 10% of all trades, and I am more reactive than proactive in about 40% of all trades.
Oops! First of all, I forgot to mention: I am slightly profitable. Plus, I have to correct one of the numbers: I am more reactive than proactive in approximately 70% of all entries.
averaging works fine until you are on the wrong side of a move like we had this week then its disaster.
NO. I am profitable. I am a reactive trader. I learned these lessons well because of when I started to trade. 10/8/99. The peak of the bull. I thought I was superman until the day MSTR opened 200 points to the downside in the premarket, and I was very heavily long. It took a year to recover those losses from one day. :eek: